Tilray Stock Rises As Study Links Medical Cannabis To Lower Opioid Use

Core Insights - A recent study indicates that medical cannabis legalization is linked to significant reductions in opioid prescriptions, which may enhance the market potential for cannabis companies like Tilray Brands Inc [2][3]. Group 1: Study Findings - The study published in the American Journal of Health Economics analyzed insurance claims for 15 to 20 million Americans from 2007 to 2020, revealing that states with medical cannabis laws experienced an average 16% reduction in opioid prescriptions [2]. - The reductions in opioid prescriptions were more pronounced in specific demographics, with declines exceeding 20% for cancer patients and non-cancer African American patients [3]. - The research also highlighted significant decreases in both the daily supply and the number of prescriptions per patient, supporting the notion of cannabis as a viable alternative to prescription opioids [3]. Group 2: Tilray Brands Inc Performance - Tilray shares increased by 5% to close at $1.68, trading within a 52-week range of $0.35 to $2.32 [5]. - The stock is currently trading significantly above its 50-day moving average of $1.26 and its 200-day moving average of $0.83, by 32.4% and 100.6% respectively [5]. - Benzinga Edge stock rankings indicate strong momentum for Tilray, with a score of 93.42 [4].